USD/CAD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Monday, September 20 - Canada elections will be held on 20 September. Justin Trudeau's Liberal Party and Erin O'Toole's Conservative Party are in a tight race for first place. The Canadian dollar may take advantage of it as these two are mainstream political parties.
Wednesday, September 22, 07:30 PM GMT+1 – The US Federal Reserve’s interest rate decision with an accompanying media conference of the Fed Chair Jerome Powell. After lower US CPI figures for August, released on Tuesday, September 14, investors expect that the Fed will not be in a hurry to reduce its massive bond-buying program. - The country has some of the world's highest vaccination rates of over 80%.
USD/CAD, September 16, 2021
Current Price: 1.2646
|
USD/CAD |
Weekly |
|
Trend Direction |
|
|
1.2796 |
|
|
1.2776 |
|
|
1.2756 |
|
|
1.2536 |
|
|
1.2516 |
|
|
1.2496 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,187 |
-1,029 |
-871 |
871 |
1,029 |
1,187 |
|
Profit or loss Short in €** |
-1,008 |
-874 |
-739 |
739 |
874 |
1,008 |
|
Profit or loss Short in £** |
-860 |
-745 |
-630 |
630 |
745 |
860 |
|
Profit or loss Short in C$** |
-1,500 |
-1,300 |
-1,100 |
1,100 |
1,300 |
1,500 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 am (GMT+1) 16/9/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details